| 1 | A bill to be entitled |
| 2 | An act relating to the corporate income tax; amending s. |
| 3 | 220.03, F.S.; providing for the adoption of the 2010 |
| 4 | version of the Internal Revenue Code; providing for |
| 5 | retroactive operation; providing an effective date. |
| 6 |
|
| 7 | Be It Enacted by the Legislature of the State of Florida: |
| 8 |
|
| 9 | Section 1. Paragraph (n) of subsection (1) and paragraph |
| 10 | (c) of subsection (2) of section 220.03, Florida Statutes, are |
| 11 | amended to read: |
| 12 | 220.03 Definitions.- |
| 13 | (1) SPECIFIC TERMS.-When used in this code, and when not |
| 14 | otherwise distinctly expressed or manifestly incompatible with |
| 15 | the intent thereof, the following terms shall have the following |
| 16 | meanings: |
| 17 | (n) "Internal Revenue Code" means the United States |
| 18 | Internal Revenue Code of 1986, as amended and in effect on |
| 19 | January 1, 2010 2009, except as provided in subsection (3). |
| 20 | (2) DEFINITIONAL RULES.-When used in this code and neither |
| 21 | otherwise distinctly expressed nor manifestly incompatible with |
| 22 | the intent thereof: |
| 23 | (c) Any term used in this code shall have the same meaning |
| 24 | as when used in a comparable context in the Internal Revenue |
| 25 | Code and other statutes of the United States relating to federal |
| 26 | income taxes, as such code and statutes are in effect on January |
| 27 | 1, 2010 2009. However, if subsection (3) is implemented, the |
| 28 | meaning of any term shall be taken at the time the term is |
| 29 | applied under this code. |
| 30 | Section 2. This act shall take effect upon becoming a law |
| 31 | and shall operate retroactively to January 1, 2010. |